Cotton yarn prices remained stable in Mumbai amid poor demand, and the market was looking towards April for better sentiments. Demand from the downstream industry was still weak. “The market has high hope from April. Buyers will come back to the market as they need to run their operations,” a trader from Mumbai told Fibre2Fashion.
Cotton yarn prices in South India remained stable with slow demand, but the increase in cotton prices boosted sentiments in the yarn market.
Mumbai and Tiruppur saw stable cotton yarn prices, with hopes of better demand in April.
In Gujarat, cotton prices were higher due to improved ICE cotton.
All India cotton arrival was estimated at 1.10 lakh bales.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,525-1,540 and ₹1,400-1,450 per 5 kg (GST extra) respectively; 60 combed warp was priced at ₹342-345 per kg; 80 carded (weft) cotton yarn was sold at ₹1,440-1,480 per 4.5 kg; 44/46 count carded cotton yarn (warp) was priced at ₹280-285 per kg; 40/41 count carded cotton yarn (warp) was sold at ₹260-268 per kg; and 40/41 count combed yarn (warp) was priced at ₹290-303 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Similarly, the Tiruppur market noted a steady trend in cotton yarn prices, and market sentiments were weak due to slower demand in the last days of the current fiscal. However, there was optimism about better demand in the next month. “Cotton yarn remained steady in south India which was opposite of north India’s market trend. Demand was likely to improve in the next months. At least, the weak trend will end in the next month. Cotton yarn may remain steady or go upwards. Recent rise in ICE cotton also supported the yarn market,” Purusottam Parmanandka, joint managing director of Tiruppur-based yarn trading company Kesharinandan Knit Fabrics Pvt Ltd, told F2F.
In Tiruppur, 30 count combed cotton yarn was traded at ₹280-285 per kg (GST extra), 34 count combed at ₹292-297 per kg and 40 count combed at ₹308-312 per kg. Cotton yarn of 30 count carded was sold at ₹255-260 per kg, 34 count carded at ₹265-270 per kg and 40 count carded at ₹270-275 per kg, as per TexPro.
In Gujarat, cotton was priced higher by ₹500 to ₹60,000-61,000 per candy of 356 kg. Sellers were asking for higher prices due to improvement in ICE cotton. Spinners were willing to pay more prices, and trade sources said that ICE cotton supported overall market sentiments. Cotton arrival was noted at 30,000 bales of 170 kg in Gujarat, and all India arrival was estimated at 1.10 lakh bales.
Fibre2Fashion News Desk (KUL)